Clarivate PLC $CLVT Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in Clarivate PLC (NYSE:CLVT) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,682,845 shares of the company’s stock after selling 744,376 shares during the period. Geode Capital Management LLC owned 0.99% of Clarivate worth $28,743,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CLVT. Parallel Advisors LLC grew its holdings in Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock worth $35,000 after acquiring an additional 7,157 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Clarivate during the second quarter worth about $53,000. R Squared Ltd acquired a new position in Clarivate in the second quarter worth about $56,000. Punch & Associates Investment Management Inc. grew its stake in Clarivate by 52.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 16,540 shares of the company’s stock worth $65,000 after purchasing an additional 5,720 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in Clarivate in the second quarter valued at about $65,000. 85.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clarivate

In other news, Director Kenneth L. Cornick bought 500,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $3.38 per share, for a total transaction of $1,690,000.00. Following the transaction, the director owned 775,000 shares in the company, valued at approximately $2,619,500. This trade represents a 181.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew Miles Snyder purchased 1,460,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the purchase, the director directly owned 2,247,510 shares of the company’s stock, valued at $7,484,208.30. This trade represents a 185.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 2,285,000 shares of company stock valued at $7,688,800. Corporate insiders own 23.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group set a $4.20 target price on Clarivate in a report on Thursday, October 30th. Wolfe Research assumed coverage on Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarivate in a report on Monday, November 17th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $4.90.

Clarivate Stock Up 0.3%

Shares of Clarivate stock opened at $3.76 on Friday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -6.60 and a beta of 1.43. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $5.88. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The business’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $4.03.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.